Dell Technologies Stocks Rise as Analysts Name It a Top Pick

Dell Stock Surges After Financial Report

Dell Technologies' stock (NYSE: DELL) rose more than 2% premarket Thursday after JPMorgan analysts upgraded the company to a new top pick. The move comes after Dell reported strong financial results for the second quarter, beating estimates.

Strong Quarterly Results

Dell reported revenue of $26.1 billion for the quarter, up 15% year-over-year. The company's server business was a major driver of growth, with revenue increasing 29% to $3.2 billion.

Dell also reported strong growth in its storage and data management businesses. The company's operating income rose 19% to $2.9 billion, and net income increased 18% to $2.1 billion.

Positive Analyst Sentiment

JPMorgan analysts cited Dell's strong financial performance and its position as a leader in the enterprise computing market as reasons for their upgrade.

Other analysts have also been positive on Dell's stock. In a recent note, analysts at Goldman Sachs said that Dell is "well-positioned to benefit from the ongoing recovery in IT spending." Analysts at Wells Fargo have a $60 price target on Dell's stock, which is 10% higher than its current price.

Positive Outlook

Dell's strong financial performance and positive analyst sentiment have led to a bullish outlook for the company's stock.

The company is expected to continue to benefit from the ongoing recovery in IT spending. Dell is also well-positioned to take advantage of the growing trend of cloud computing and virtualization.

Conclusion

• Dell Technologies' stock rose more than 2% premarket Thursday after JPMorgan analysts upgraded the company to a new top pick.
• The move comes after Dell reported strong financial results for the second quarter, beating estimates.
• Analysts are positive on Dell's stock due to its strong financial performance and its position as a leader in the enterprise computing market.
• The company is expected to continue to benefit from the ongoing recovery in IT spending and is well-positioned to capitalize on the growing trend of cloud computing and virtualization.